Baskin Financial Services Inc. Sells 1,379 Shares of MSCI Inc $MSCI

Baskin Financial Services Inc. lessened its holdings in shares of MSCI Inc (NYSE:MSCI) by 2.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 68,838 shares of the technology company’s stock after selling 1,379 shares during the quarter. MSCI accounts for 3.0% of Baskin Financial Services Inc.’s investment portfolio, making the stock its 18th biggest position. Baskin Financial Services Inc.’s holdings in MSCI were worth $37,080,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in MSCI in the 2nd quarter worth approximately $3,062,626,000. Bamco Inc. NY acquired a new stake in MSCI in the 2nd quarter valued at approximately $1,798,710,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in MSCI in the 2nd quarter valued at approximately $480,613,000. Generation Investment Management LLP bought a new stake in MSCI during the 2nd quarter valued at $301,493,000. Finally, Legal & General Group Plc bought a new stake in MSCI during the 2nd quarter valued at $257,687,000. Institutional investors own 89.97% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on MSCI from $700.00 to $685.00 and set an “overweight” rating for the company in a research note on Wednesday, October 14th. Weiss Ratings lowered shares of MSCI from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 30th. Morgan Stanley dropped their price target on shares of MSCI from $700.00 to $662.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 13th. UBS Group set a $615.00 target price on MSCI in a report on Wednesday, July 22nd. Finally, Bank of America upped their target price on MSCI from $715.00 to $730.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $701.17.

Insider Activity at MSCI

In related news, CFO Andrew Wiechmann sold 450 shares of the stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $570.00, for a total transaction of $256,500.00. Following the completion of the sale, the chief financial officer directly owned 21,644 shares of the company’s stock, valued at $12,337,080. This represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.76% of the stock is owned by insiders.

MSCI Stock Down 1.6%

MSCI stock traded down $8.91 during midday trading on Monday, hitting $560.17. The company’s stock had a trading volume of 407,216 shares, compared to its average volume of 631,814. MSCI Inc has a 12 month low of $501.08 and a 12 month high of $644.77. The company has a market capitalization of $40.72 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 2.16 and a beta of 1.24. The stock’s 50-day moving average price is $558.93 and its 200-day moving average price is $575.65.

MSCI (NYSE:MSCI) last posted its quarterly earnings data on Tuesday, July 21st. The technology company reported $4.94 earnings per share for the quarter, missing the consensus estimate of $4.99 by ($0.05). The business had revenue of $867.00 million for the quarter, compared to the consensus estimate of $870.71 million. MSCI had a net margin of 40.74% and a negative return on equity of 55.19%. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter last year, the business posted $4.17 EPS. As a group, equities analysts anticipate that MSCI Inc will post 19.55 EPS for the current year.

MSCI Company Profile

MSCI Inc (NYSE:MSCI) is a global provider of investment decision-support tools and services for institutional investors, asset managers, banks and other financial institutions. The company is best known for developing equity, fixed-income and multi-asset indexes used to benchmark portfolios and support the creation of investment products such as exchange-traded funds.

In addition to its indexes, MSCI provides portfolio analytics, risk-management and performance-attribution tools, as well as research and data covering environmental, social and governance factors, climate risk and sustainable investing.